Sansiri chief executive Apichart Chutrakul (right) and Siam Commerce Bank Plc president and chief executive Arthid Nanthawithaya (left) announce the launch of Siri Venture Co, headed by Shakrit Chanrungsakul (centre). SET-listed developer Sansiri Plc will join Siam Commercial Bank (SCB) in forming the country's first venture capital firm aimed at investing in property technology (proptech) startups. Siri Venture has an initial registered capital of 100 million baht of which 90% is held by Sansiri and SCB owns the rest. "We will focus on seeking investment opportunities in proptech startups," he said, adding that Sansiri's proptech venture will be used to enhance its own business operations and develop innovative products and services for its customers. SCB's president and chief executive Arthid Nanthawithaya said that the venture supports its strategy to gear towards financial technology (fintech) through its fintech subsidiary Digital Venture.

Source: Bangkok Post February 03, 2017 00:24 UTC